OSARO Inc., which develops and deploys software-defined automation for logistics, last week announced that it has raised $30 million in Series C fuunding. The San Francisco-based company said it plans to use this latest investment to enhance its core technology capabilities. OSARO also said it will apply its machine learning platform to new applications, expand its global marketing and support, and hire more employees.
“This new funding will allow OSARO to expand our solution set and accelerate delivery to our customers,” stated Derik Pridmore, co-founder and CEO of OSARO. “With dozens of customers on five continents, OSARO has built a global presence that we’re excited to expand.”
“We look forward to collaborating with our customers to identify new opportunities where robotic solutions can help scale and improve operational performance,” he said. “Our customers’ success is our success.”
Combining object recognition and control
Demand for logistics automation has dramatically increased in the past year because of an e-commerce surge driven by the COVID-19 pandemic. OSARO said this demand has enabled it to secure robotics deployments in seven countries on five continents.
OSARO said its systems bring together machine learning for object recognition with control software that adapts to customer data and environments. The company’s robotic piece-picking solution is optimized for warehouses and e-commerce fulfillment centers. Key challenges include high-SKU inventories, complex packaging, and fragile items requiring delicate handling.
OSARO added that its systems can enable logistics operators to automate and scale order fulfillment, inventory induction and extraction, sortation, and singulation.
The company said its automation can be integrated with automated storage and retrieval systems (ASRS), autonomous mobile robots (AMRs), conveyor systems, and other materials handling equipment.
In addition, OSARO claimed that its technology has been validated by the world’s top retailers, systems integrators, and third-party logistics providers (3PLs).
OSARO to scale up
Octave Ventures led OSARO's Series C round, which brings its total funding to date to $67.5 million. Octave Ventures is a global investor with a particular focus on “deep tech” and biotech investments.
New investors include Octave Ventures, J17 Capital, and Tomales Bay Capital. Existing investors AME Cloud Ventures, iRobot Corporation, King River Capital, and Founders Fund also participated. In April, the company raised $17.3 million and announced integrated products.
“We are excited to help OSARO scale their business as they continue to widen their geographic targets and grow their product offering,” said Octave Ventures’ Michael Kim. “The market desperately needs this technology, and OSARO’s robotic automation solutions are ready for prime time.”
OSARO said the latest funding will help it further expand its product line during the next two years.